Copper futures end higher after Trump extends ceasefire
Copper futures ended higher on Wednesday as US President Donald Trump's extension of a ceasefire with Iran has temporarily improved global risk sentiment, despite lingering uncertainty over the Middle East conflict. Copper prices improved further on demand spikes from restocking activities in China ahead of the Labor Day holiday (May 1-5). However, a higher dollar made copper more expensive for foreign buyers, which limited further gains in copper prices.
Copper futures for May delivery rose $0.118 to settle at $6.1285 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 1.53% at $13,433 a ton.
